The Supply Curve of Labor That an Employer Faces Can

question 51

True/False

The supply curve of labor that an employer faces can be changed through successful collective bargaining by a labor union.

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Definitions:

Labor Shortage

A situation where the demand for workers exceeds the supply within a particular industry or overall economy.

Revocability

The characteristic of being able to cancel, withdraw, or annul something previously granted or decided.

Outsourcing

The business practice of hiring a party outside a company to perform services or create goods that traditionally were performed in-house.

Core Competency

A set of knowledges and skills that make the organization superior to competitors and create value for customers.